Evolv (EVLV) insider files exercise of 80,745 options and Rule 10b5-1 sale
Rhea-AI Filing Summary
Michael Ellenbogen, Founder and Chief Innovation Officer of Evolv Technologies Holdings, Inc. (EVLV), reported transactions on 09/15/2025. He exercised 80,745 stock options with a $0.24 exercise price, resulting in acquisition of 80,745 Class A shares. On the same date he sold 80,745 Class A shares under a Rule 10b5-1 plan at a weighted average price of $8.46 per share (individual sale prices ranged $8.34–$8.80). Following the transactions, he reported 2,083,961 Class A shares held directly and 151,135 held indirectly by the Family Horizon Trust. The option expires 09/13/2027 and vested 25% on 01/31/2018 with subsequent monthly vesting; the Form 4 was signed by an attorney-in-fact on 09/17/2025.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine option exercise and contemporaneous Rule 10b5-1 sale; not an unusual liquidity event for an insider.
The filing documents an exercise of 80,745 options at $0.24 and the immediate sale of the resulting 80,745 shares under a pre-established 10b5-1 plan at a weighted average of $8.46. The transactions changed direct beneficial ownership from 2,164,706 to 2,083,961 shares while leaving 151,135 shares held indirectly. The option terms (exercise price, exercisable date and 09/13/2027 expiration) and vesting schedule are disclosed, and the sale range ($8.34–$8.80) is provided. This is a documented, time-stamped insider liquidity event rather than a governance or capital-structure change.
TL;DR: Disclosure is complete for the reported transactions and cites a 10b5-1 plan; signature executed by attorney-in-fact.
The Form 4 supplies required details: transaction dates, codes, quantities, weighted average sale price and the 10b5-1 plan start date (06/12/2025). It also discloses indirect holdings via the Family Horizon Trust and the option vesting history. The form is properly signed by an attorney-in-fact on 09/17/2025. From a compliance standpoint the filing appears to meet Section 16 disclosure requirements based on the information provided in the form.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 80,745 | $0.00 | -- |
| Exercise | Class A Common Stock | 80,745 | $0.24 | $19K |
| Sale | Class A Common Stock | 80,745 | $8.46 | $683K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into on June 12, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.34 to $8.80. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The option vested and became exercisable as to 25% on January 31, 2018 and vested in 36 equal monthly installments thereafter.
